Executives at AB Watley being investigated

The NASD/SEC is all about legal largesse and scoring points...

Firstly...they need cases on their resume to advance to the big corporate legal firms where the real money is....

There is blatant cronyism in terms of the legal fee business that drives much of their day to day operations..

Legal fees alone wipe out individuals and their families...

There are so many double standards in the system...too big to fail...being connected is becoming more and more important....

The point is...nobody is policing the police...

In America...its best to get as independent as you can....being a trader is close to this possibility if you can do it...
 
Quote from Hydroblunt:

Yes, either nothing or everything. Why should I be afraid about buying 1-2k or some options on some info I have when these pigs are taking half mil blocks in a blatant manner without a worry in the world. Why can't a daytrading firm use the same strategies as floor traders and some of the best known & glamourized hedge funds (i.e Cramer & Cohen's funds)?

No really, I would love to hear any justification on behalf of the SEC regarding these double standards. Cause it has become obvious to me that instead of protecting the investor, the SEC has actually hindered him/her. At least before these hypocritical insider trading rules, any Joe Shmoe could have went out and dug up some inside info. Now it's a federal crime, unless you're a big shot moving huge blocks or a bid hedge fund.
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Should we apply this to murder and molestation. Since OJ was able to buy his way out of a murder conviction, and Jackson was able to buy his way out several times from molestation charges (at least till now), does that mean we should no longer prosecute any murders and molestation?

I remember getting creamed in a stock in a matter of about 15 seconds (i'm talking about 2 points out of nowhere), and then finding out later that the AB Watley gang was shorting it hard ahead of a "squawk box" announcement. That is not fair. Yes, EVERY violator should be prosecuted, but in the meantime, i'll take what i can get. The more scumbags taken out, the better my chances are.
 
Quote from Hydroblunt:

I don't understand, the whole NYSE floor makes money front running big market moving orders. Cramer's hedge fund did the same exact thing and I'm sure Steve Cohen's does it also being that he is so keen on early information. I am not defending AB Watley here since they are scumbags but in this case, all they did was level the playing field.

SEC and NASD are becoming bigger hypocrites by the day. I watched and traded in amazement as a stock was being run up 7% and then after the close, news containting higher guidance was released. Next trading day it gaps up and sells off from the open. Insider trading?? Nahhhh. It only counts when Joe Shmoe buys 5k shares prior to good news release, the ones moving half mil blocks get special treatment.

Situation like these only make me lose any concern for securities laws being that they are complete BS anyway.
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You're right. Remember COCO? The Nasdaq took from the little guys because of institutional "trader error".
 
Quote from I Missed Boat:

Should we apply this to murder and molestation. Since OJ was able to buy his way out of a murder conviction, and Jackson was able to buy his way out several times from molestation charges (at least till now), does that mean we should no longer prosecute any murders and molestation?
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Whoa whoa, not the same thing, not even close. OJ was prosecuted and did get creamed in civil court. Yeah he got away with murder, but he also lost almost all his money in the process. That and his reputation is stained and his prospects for future work have decreased. The rich may be able to get away with murder in this country but they certainly pay for it through the litigation process. Nothing in the US law states that you cannot get off scott free when you commit murder. It's all about the litigation process.
Meanwhile when it comes to insider trading, we have an exchange where everyone front runs market moving orders and is rampant with insider information yet the only time anything is done is when they need some PR. Come on now.

I remember getting creamed in a stock in a matter of about 15 seconds (i'm talking about 2 points out of nowhere), and then finding out later that the AB Watley gang was shorting it hard ahead of a "squawk box" announcement. That is not fair. Yes, EVERY violator should be prosecuted, but in the meantime, i'll take what i can get. The more scumbags taken out, the better my chances are.
More...

Oh ok, so when the floor traders or Steve Cohen's fund is doing it, it's ok but when some firm levels the playing field, it's not ok. That makes some sense, in a hypocritical sort of way.
 
Quote from Hydroblunt:

........SEC and NASD are becoming bigger hypocrites by the day. I watched and traded in amazement as a stock was being run up 7% and then after the close, news containting higher guidance was released. Next trading day it gaps up and sells off from the open. Insider trading?? Nahhhh. It only counts when Joe Shmoe buys 5k shares prior to good news release, the ones moving half mil blocks get special treatment.

Situation like these only make me lose any concern for securities laws being that they are complete BS anyway.
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If you pay attention this happens quite a lot. It must only be a coincidence when the stock movement precedes the news.

Yeah right.
 
Quote from Hydroblunt:

Whoa whoa, not the same thing, not even close. OJ was prosecuted and did get creamed in civil court. Yeah he got away with murder, but he also lost almost all his money in the process. That and his reputation is stained and his prospects for future work have decreased. The rich may be able to get away with murder in this country but they certainly pay for it through the litigation process. Nothing in the US law states that you cannot get off scott free when you commit murder. It's all about the litigation process.
Meanwhile when it comes to insider trading, we have an exchange where everyone front runs market moving orders and is rampant with insider information yet the only time anything is done is when they need some PR. Come on now.



Oh ok, so when the floor traders or Steve Cohen's fund is doing it, it's ok but when some firm levels the playing field, it's not ok. That makes some sense, in a hypocritical sort of way.
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Please explain how I am being a hypocrite when I say that the more crooks taken off, the better, until the system is improved to get them all? And please explain your own hypocritical statement, which is that a small minority of daytraders illegally screwing many other honest ones is a "level playing field." If it were level, then we'd ALL have the information.
 
Quote from kowboy:

If you pay attention this happens quite a lot. It must only be a coincidence when the stock movement precedes the news.

Yeah right.
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I agree with you generally, but on this rare occasion I have to agree with Hydroblunt that once in awhile, especially up until a couple years ago, there have been exceptional moves and circumstances. Nonetheless, the crookedness is worse on the NAZ, both between the MMs and such incidents as that in COCO last year (which someone just mentioned).
 
Quote from Hydroblunt:





Oh ok, so when the floor traders or Steve Cohen's fund is doing it, it's ok but when some firm levels the playing field, it's not ok. That makes some sense, in a hypocritical sort of way.
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This is not levelling the playing field. This is illegally getting an advantage by paying employees of another company to feed you privileged information.
 
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